Fifth Street Senior Floating Rate Corp. Raises $294.3 Million in Gross Proceeds in Connection With Public Offering of Common Stock

GREENWICH, CT, Aug. 19, 2014 (GLOBE NEWSWIRE) -- Fifth Street Senior Floating Rate Corp. (NASDAQ:FSFR) ("FSFR") today announced that it has closed a public offering of 22,800,000 shares of its common stock at a public offering price of $12.91 per share for total gross proceeds of approximately $294.3 million. FSFR intends to use the net proceeds from this offering to repay debt outstanding under its credit facility and to make investments in small and mid-sized companies in accordance with its investment objective and strategies described in the prospectus supplement and accompanying prospectus and may use such funds for general corporate purposes.

Fifth Street Senior Floating Rate Corp. is a specialty finance company that provides financing solutions in the form of floating rate senior secured loans to mid-sized companies, primarily in connection with investments by private equity sponsors. FSFR's investment objective is to maximize its portfolio's total return by generating current income from its debt investments while seeking to preserve its capital. The company has elected to be regulated as a business development company and is externally managed by Fifth Street Management LLC, an SEC-registered investment adviser and leading alternative asset manager with $5 billion in assets under management. With a track record of more than 16 years, Fifth Street's nationally recognized platform has the ability to hold loans up to $150 million, commit up to $250 million and structure and syndicate transactions up to $500 million. Fifth Street received the 2014 ACG New York Champion's Award for "Senior Lender Firm of the Year" and was named both 2013 "Lender Firm of the Year" by The M&A Advisor and "Lender of the Year" by Mergers & Acquisitions. FSFR's website can be found at fsfr.fifthstreetfinance.com. Information contained on its website is not incorporated by reference into this press release, and such information should not be considered part of this press release.

Forward-Looking Statements

This press release contains certain forward-looking statements, including statements with regard to the future performance of Fifth Street Senior Floating Rate Corp. Words such as "believes," "intends," "expects," "plans," "projects," "anticipates," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements, and these factors are identified from time to time in FSFR's filings with the Securities and Exchange Commission. FSFR undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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